Ammunition Market by Application (Defense, Civil & Commercial), Caliber (Small, Medium, Large), Product (Bullets, Aerial Bombs, Artillery Shells, Mortars), Component, Guidance Mechanism, Lethality (Lethal, Less-lethal), and Region -Global Forecast to 2028

Ammunition Market by Application (Defense, Civil & Commercial), Caliber (Small, Medium, Large), Product (Bullets, Aerial Bombs, Artillery Shells, Mortars), Component, Guidance Mechanism, Lethality (Lethal, Less-lethal), and Region -Global Forecast to 2028

The global ammunition market size is projected to grow from USD 28.0 billion in 2023 to USD 33.1 billion in 2028, at a CAGR of 3.4% from 2023 to 2028. Factors such as the modernization of armed forces, the militarization of police forces, changing nature of warfare, the increasing incidence of drug trafficking, and terrorist activities are the driving factors in the ammunition market. However factors like varying regulations affecting procurement of ammunition and civilian disarmament initiatives are acting as restraints on the market

“Medium-Caliber segment to grow at highest CAGR during the forecast period.“

Medium-caliber ammunition is poised to experience the highest growth rate during the forecast period due to several key factors. Firstly, there is an increasing demand for versatile ammunition that can effectively engage targets across various combat scenarios, ranging from infantry engagements to light vehicle suppression. Medium-caliber rounds offer a balance between firepower, range, and portability, making them suitable for a wide range of applications. Moreover, the growing emphasis on urban warfare and counterinsurgency operations necessitates ammunition that can provide effective suppression while minimizing collateral damage, a requirement that medium-caliber rounds are well-suited to fulfill

“By Product, bullets in the ammunition market segment will grow at highest CAGR.“

The bullets segment is projected to grow at the highest CAGR. The growth of this segment can be attributed to the high demand from infantry soldiers, homeland security personnel, and civilians. Bullets represent a fundamental and essential component of firearm ammunition. As the primary projectile expelled from firearms, bullets are indispensable in military, law enforcement, sports and hunting activities, and civilian shooting applications.

“By Application, the fastest-growing segment of the ammunition market is Defense. “

The Defense segment of the ammunition market is poised for the highest growth rate due to several converging factors. Firstly, geopolitical tensions and escalating security threats around the globe are compelling nations to bolster their defense capabilities, leading to increased procurement of ammunition for military forces. Additionally, the proliferation of asymmetric warfare, terrorism, and insurgency activities necessitates continuous modernization and enhancement of defense arsenals, driving sustained demand for ammunition across various calibers and types. Moreover, advancements in military technology, such as the development of precision-guided munitions and smart ammunition, are driving investments in next-generation ammunition solutions, further propelling the growth of the Defense segment.

“Asia Pacific is the largest contributing region in the ammunition market.”

The ammunition market in the Asia Pacific region has been studied for the China, India, Japan, South Korea, Australia, Singapore, Indonesia, and Vietnam. One of the major factors fueling the growth of the ammunition market in Asia Pacific is ongoing military modernization programs in India and China. The increasing incidences of territorial and armed conflicts in the Asia Pacific region have led major economies to adopt strong measures to protect their land as well as the population.

The break-up of the profile of primary participants in the ammunition market:

By Company Type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%

By Designation: C Level – 35%, Director Level – 25%, and Others – 40%

By Region: North America – 20%, Europe – 5%, Asia Pacific – 45%, and Middle East & Africa – 30%

Major companies profiled in the report include General Dynamics Corporation (US), Northrop Grumman Corporation (US), BAE Systems (UK), Thales (France), Nammo AS (Norway), Elbit Systems Ltd. (Israel), Olin Corporation (US), Rheinmetall AG (Germany), and Ammo Inc. (US) among others. (26 Companies)

Research Coverage:

This research report covers the ammunition market across various segments and subsegments. It aims at estimating the size and growth of the market across different segments and region. The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the ammunition market. A detailed analysis of the key industry players has been done to provide insights into their business overviews; solutions and services; key strategies; new product launches; mergers; and partnerships, agreements, associated with the ammunition market.

Reasons to buy this report:

The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall ammunition market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

Analysis of Key Drivers ( Geopolitical tensions and territorial conflicts across the globe, Growth in military expenditure across the countries, Change in nature of warfare, Modernization programs undertaken by military forces, Militarization of police forces, Rise in drug trafficking globally) Restraints ( Varying regulation affecting the procurement of ammunition, Civilian Disarmament initiatives), Opportunities (Advancements in small-caliber ammunition, Stockpiling of ammunition, Reduction in weight of ammunition) Challenges (Proliferation of illicit ammunition manufacturers, International measures to control use of ammunition).

Market Penetration: Comprehensive information on ammunition offered by the top players in the market

Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the ammunition market

Market Development: Comprehensive information about lucrative markets – the report analyzes the ammunition market across varied regions

Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the ammunition market

Competitive Assessment: In-depth assessment of market shares, growth strategies, products, and manufacturing capabilities of leading players in the ammunition market